Obama re-ups corporate tax reform call

1/28/14 9:33 PM EST

President Barack Obama gave a brief nod to corporate tax reform during the State of the Union speech on Tuesday evening, saying that overhauling the corporate side of the tax code would make the “decision easier for more companies” to hire and grow within the United States.

“Both Democrats and Republicans have argued that our tax code is riddled with wasteful, complicated loopholes that punish businesses investing here, and reward companies that keep profits abroad,” Obama said. “Let’s flip that equation. Let’s work together to close those loopholes, end those incentives to ship jobs overseas and lower tax rates for businesses that create jobs here at home.”

This is not a new proposal for the president who has at least twice in recent years suggested revising the international tax laws that allow corporations to claim tax benefits for moving operations abroad. He wants to use the funds to finance infrastructure projects such as road repair and port upgrades.

Republicans largely panned the proposal when Obama suggested corporate-only reform this summer, saying that Congress needs to undergo comprehensive reform — that overhauls both the individual and business tax laws — and that money should be spent on rate reduction — not new spending.

It’s unlikely Republican tax-writers take a more positive approach to the corporate-only approach as House Ways and Means Committee Chairman Dave Camp is still insistent he will pursue comprehensive reform this year. There is also little appetite among Republican House leadership or Senate Democratic leadership to take up reform in an election year.